Tbh i know very little about this, but today i got an email from my case worker that my IVA would be closed by the end of the week so i thought today was the time to check my credit report, never done this before so i went to creditexpert and used the free trial.
Its showing i have 3 defaults, 1 of which is showing settled, my main rating is good and 925?? is that actually good??
Surprisingly my biggest default showed as settled 3 years ago which was barclays, they seemed all happy 3 years ago!
I know i have to wait 6 years for the total to come off, but with that credit rating would i have any problems obtaining car finance? anyone know??
Before anyone sayes i know i have learnt my lesson from debt but do need a newer car, and sometimes this is the only option, would take at least 2 years to save for a replacement car.
You'll only have to wait 6 years from the date of default.
I checked my credit expert file and was showing 722 last time. It looks as though your file is good and once your default drop off, you should be in very good shape!
Im showing 2 that haven't been settled, max recovery and AA, looking at the report it looks like they have added interest as well. hhmmmm
In thoery if i wait until may next year everything will be gone? and if i continue to do good things, like my virgin payments and mobile phone etc it should be in good shape next year?
Last edited by antm on Tue Jul 03, 2012 4:55 pm, edited 1 time in total.
In theory wait until may and there wont be a clue that you had defaulted at all. (Unless you default between now and then)
My 6 years are up this Saturday, couple of my defaults have already started to drop off, others have a date showing after my IVA started but as I don't have my Certificate of Completion through yet (come on Grant Thornton!) I cant amend the details so they all come off together.
I completed my IVA in April and have not received my Completion certificate yet either. However I have written to all my creditors asking them to amend the default dates to the date of acceptance of my IVA. So far, all the creditors that have replied have done this for me
bw Rich
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look. http://rich.blogs.iva.co.uk/
Max recovery much to my suprise have been very good and getting it right as satisfied however the original creditors still show default even though they sold the debt onto max recovery. Suffice whilst you have an IVA marked on there even when completed I'd best wait till that six year thing has past and it should all drop off anyway. As my bank says until it does I doubt anyone will lend you a pencil apart from the likes of wonga.com and that's just a bad idea.
I have a debit card from nationwide (red) but not all debit cards are the same so I'm waiting till six years and I can have a Blue one wahooo.
Max Recovery took 3 months to report status PS (Partial Settlement) after completion so I wasn't too fussed about that. As long as they drop-off at the 12 month marker that will be ok for me
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
Should accounts not be marked as settled or satisfied? Is part settlement not unfair given that any amount not recovered has been written off therefore not part settled??
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi , I contacted noddle as I want mie clearing up. Everything on my credit file is still registering defaults apart from welcome finance who are putting late payment. Noddle have told me that as I have now completed my iva all accounts have to be marked as satisfied but will not drop off until after year 6. I have a problem with welcome finance as they are registering a late payment and no default . Therefore I am trying to get them to register the default from 2009 as otherwise I am sure it will be on my file forever. Have email the financial ombudsman for advice as its getting a bit stressful as they don't answer your mails or letters (welcome)
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft
Should accounts not be marked as settled or satisfied? Is part settlement not unfair given that any amount not recovered has been written off therefore not part settled??
Paul
I wouldn't argue with that but as long as it drops of 6 years after the default not too fussed.
Default date was September 2006, IVA was started November 2006 and completed November 2011 and it says removed from file September 2012 which is just a few months away.
The only credit I wanted/needed for 2012 after compeltion was a Vanquis card and got that no problem, mortgages and stuff not even thinking about till after all the defaults cleared up so what they have put now doesn't worry me.
That's a job for 2013 if any are still there as they are all supposed to be deleted by December 2012
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
According to Noddle all my defaults have been applied correctly in May 2009. So fingers crossed come the end of my 6 year IVA (May 2015), hopefully they will all fall off without too much trouble.
I have noted that on two of the accounts a Settled notice was applied in 2011, even though the initial default was still applied in May 2009. Hope these also disappear and it is not 6 years from the Marked Settlement date
Creditors are allowed to mark accounts as partially satisfied so any entries showing that are correct. Most of my accounts are marked that way. I'm looking forward to October when my first defaults will be gone!
Creditors are allowed to mark accounts as partially satisfied so any entries showing that are correct. Most of my accounts are marked that way. I'm looking forward to October when my first defaults will be gone!
Ive had reason to speak with the information commisioners office recently about default notices and creditors are under no obligation to mark default notices as ‘settled’ or ‘satisfied’ and they are entitled to mark the default as ‘partially paid’ or ‘partially satisfied’.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Kelly O
Ive had reason to speak with the information commisioners office recently about default notices and creditors are under no obligation to mark default notices as ‘settled’ or ‘satisfied’ and they are entitled to mark the default as ‘partially paid’ or ‘partially satisfied’.
Does this mean that it will stay on the reports for a further 6 years from the date it was settled rather than the date it defaulted then?
I have an HSBC account that is marked as partially settled and states that the full and final paymemt would not clear the balance...will I really have that on my credit file for 11 years in total?
When you reach the end of your rope..tie a knot in it and hang on!
